Shiba Inu whales are not worried about the recent price action on the "Dogecoin killer" token and bought even more tokens.
The recent price pullback of Shiba Inu might have pushed some traders or investors to think differently, but the large cryptocurrency market players, also known as whales, do not seem to be worried about the recent price action according to watcher.guru.
Based on reports, the average investment number of whale-tier addresses has been staying over $1 million. In addition, the average amount of purchased SHIB tokens was 20 billion. Not to mention that Whales have been continually adding up more SHIB tokens following each dip starting from October 28.
According to history and reports, the increasing number of whales is usually considered a good sign for crypto since large traders and investors are the ones who control prices on the market and can change the direction of the trend.
In the last 24 hours, the price of the SHIB memecoin decreased by 4% and it is trading at $0.00005158 at writing time. In the last week, the value of the Shiba Inu token has not changed a lot compared to the volatility, which declined from an average of 30% to 10%.